Swiss digital bank Sygnum Bank announced on August 2 that it has expanded its bank-level staking service to include Cardano (ADA), currently the eighth largest protocol by market cap.
The world’s first digital asset bank Cardano announced that it will offer staking!
The world’s first digital asset bank claims that through the bank’s enterprise-grade platform, customers “can conveniently and securely stake Cardano for stake rewards,” according to a press release.
Cardano joins Sygnum’s expanding portfolio of bank-level staking protocols, which also includes Ethereum 2.0 (ETH), Internet Computer Protocol (ICP), and Tezos (XTZ), so customers can stake Cardano from their existing wallets and earn staking rewards.
The staking services offered by Sygnum are fully integrated with the banking platform it uses. Enterprise-grade security is provided by dedicated wallets, secure private key management, and multi-layered security architecture.
Thomas Eichenberger, Head of Business Units at Sygnum Bank, said:
Staking is the practice of actively participating in the verification of transactions on the Proof-of-Stake blockchain in exchange for stake rewards.
In addition, staking services are a key component of Sygnum’s regulated offering and are easily accessible to customers through Sygnum’s eBanking Platform.